we have different views on our approach to this thing. and i will leave it @that all the best dharmahi dharma,
This has been a good rally for anyone trading long. But the real bull moves are marked by persistent bearishness at the start. This was the way it worked in the 2005 bottom. It took months to set up that rally into May 2006. And also note that we did not see extreme bearishness at the lows. That would have been best. If the HGNSI was actually really negative in Nov. I would have bought like crazy. Otherwise I have lost the appetite for risk. Wonder why?
The bottom is in for the PMs for now. But it will be volatile and it is best to cull longs at times like now and rebuy weakness. There is a currency turn date this weekend, so another reason to be cautious from my viewpoint.
Always remember that this is a bear market right now and you need to treat it as such. If gold manages to break for $1000 and to new highs, then there is wind in the sails. Otherwise, it is a range bound trade it situation.
cheers,
john
HGNSI MarketWatch
Started by
SilentOne
, Dec 09 2008 11:57 PM
10 replies to this topic
#11
Posted 11 December 2008 - 03:25 PM